<p>The Indian auto industry is expected to see stronger growth in 2021-22, after recovering from the devastating effects of the Covid-19 pandemic, with electric vehicle sales, especially two-wheleers, also likely to see positive movements, according to Nomura Research Institute Consulting & Solutions India.</p>.<p>However, in the personal vehicles segment, the levels reached in 2018-19 would be reached only in 2023-24, it added.</p>.<p>In 2018-19, passenger vehicle sales rose 2.7 per cent to 33,77,436 units from 32,88,581 units in 2017-18, according to the Society of Indian Automobile Manufacturers (SIAM).</p>.<p>"After the devastating effects of the Covid-19 pandemic, it is expected that the auto industry will see stronger growth in 2021-22," Ashim Sharma, partner and group head (business performance improvement consulting-auto, engineering and logistics) at NRI Consulting & Solutions India, said.</p>.<p>As far as personal vehicles are concerned, the 2018-19 levels would be reached only in 2023-24 whereas for two-wheelers, it will be achieved maybe a year after that, he added.</p>.<p>"In addition price hikes expected with introduction of new regulations could delay the recovery even further," Sharma said.</p>.<p>In 2018-19, total two-wheeler sales rose 4.86 per cent to 2,11,81,390 units as compared with 2,02,00,117 units in 2017-18.</p>.<p>As far as electric vehicles (EVs) are concerned, Sharma said 2021-22 would also see positive movements, especially in the two-wheeler EV segment, with new players like Ola Electric getting into the fray.</p>.<p>"In addition, on the EV components side, we could finally see cell level manufacturing starting off in India with technological collaborations focusing on cutting-edge technologies such as LTO (lithium titanium oxide) batteries," he said.</p>.<p>The LTO batteries can be fast-charged at high temperatures as well as last for 10,000-plus cycles and other enhanced chemistries like NMC811, he said. NMC811 is a cathode composition with 80 per cent nickel, 10 per cent manganese and 10 per cent cobalt.</p>.<p>In case of other EV components such as motors and controllers, Sharma said, "We could see a wider participation by local component players and also the entry of some new players especially to cater to the rise in domestic EV two-wheeler and three-wheeler demand."</p>.<p>In addition, export opportunities for EV components as well as batteries could certainly emerge for domestic players as the world struggles to find alternative sources for supply chain resilience, he added.</p>.<p>Sharma said players that show preparedness for this can certainly capitalise on the opportunities.</p>
<p>The Indian auto industry is expected to see stronger growth in 2021-22, after recovering from the devastating effects of the Covid-19 pandemic, with electric vehicle sales, especially two-wheleers, also likely to see positive movements, according to Nomura Research Institute Consulting & Solutions India.</p>.<p>However, in the personal vehicles segment, the levels reached in 2018-19 would be reached only in 2023-24, it added.</p>.<p>In 2018-19, passenger vehicle sales rose 2.7 per cent to 33,77,436 units from 32,88,581 units in 2017-18, according to the Society of Indian Automobile Manufacturers (SIAM).</p>.<p>"After the devastating effects of the Covid-19 pandemic, it is expected that the auto industry will see stronger growth in 2021-22," Ashim Sharma, partner and group head (business performance improvement consulting-auto, engineering and logistics) at NRI Consulting & Solutions India, said.</p>.<p>As far as personal vehicles are concerned, the 2018-19 levels would be reached only in 2023-24 whereas for two-wheelers, it will be achieved maybe a year after that, he added.</p>.<p>"In addition price hikes expected with introduction of new regulations could delay the recovery even further," Sharma said.</p>.<p>In 2018-19, total two-wheeler sales rose 4.86 per cent to 2,11,81,390 units as compared with 2,02,00,117 units in 2017-18.</p>.<p>As far as electric vehicles (EVs) are concerned, Sharma said 2021-22 would also see positive movements, especially in the two-wheeler EV segment, with new players like Ola Electric getting into the fray.</p>.<p>"In addition, on the EV components side, we could finally see cell level manufacturing starting off in India with technological collaborations focusing on cutting-edge technologies such as LTO (lithium titanium oxide) batteries," he said.</p>.<p>The LTO batteries can be fast-charged at high temperatures as well as last for 10,000-plus cycles and other enhanced chemistries like NMC811, he said. NMC811 is a cathode composition with 80 per cent nickel, 10 per cent manganese and 10 per cent cobalt.</p>.<p>In case of other EV components such as motors and controllers, Sharma said, "We could see a wider participation by local component players and also the entry of some new players especially to cater to the rise in domestic EV two-wheeler and three-wheeler demand."</p>.<p>In addition, export opportunities for EV components as well as batteries could certainly emerge for domestic players as the world struggles to find alternative sources for supply chain resilience, he added.</p>.<p>Sharma said players that show preparedness for this can certainly capitalise on the opportunities.</p>